Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. Match the items in the two columns below by entering the appropriate code letter in - the space provided. A. Activity index B.
2. Match the items in the two columns below by entering the appropriate code letter in - the space provided. A. Activity index B. Variable costs C. Fixed costs D. High-low method E. Relevant range F. Mixed costs G. Break-even point H. Contribution margin 1. Margin of safety in dollars J. Contribution margin ratio 1. The amount of revenue remaining after deducting variable costs. 2. Costs that contain both a variable and a fixed component. 3. The percentage of sales dollars available to cover fixed costs and produce income. 4. Identifies the activity that causes changes in the behavior of costs. 5. The difference between actual or expected sales and the break-even point in sales dollars. 6. Costs that vary in total directly and proportionately with changes in the activity level. 7. The level of activity at which total revenues equal total costs. 8. The range over which the company expects to operate during the year. 9. Costs that remain the same in total regardless of changes in the activity level. 10. A method that uses the total costs incurred at the high and low levels of activity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started